13F Insight
DOSSIER · 13F-HR · Q1 2026

KING STREET CAPITAL MANAGEMENT, L.P.

$328M in tracked AUM across 11 positions as of Q1 2026.

KS
CIK 0001218199 · last filed Mar 31, 2026
Total AUM
$328M
as of Q1 2026
Holdings
11
—
positions
Whale Score
71
71
strong
Activity
—
no data
changes this Q
AI Analysis · Q1 2026

Comprehensive Analysis of King Street Capital Management, L.P. 13F Filing (Q3 2025)

1. Portfolio Overview

King Street Capital Management, L.P. has executed a drastic restructuring of its portfolio during the quarter ending September 30, 2025. The firm reduced its total portfolio value by 48.7%, declining from approximately $1.05 billion to $538.34 million. This reduction was driven not merely by market performance but by a significant shift in asset allocation, characterized by a reduc...

The portfolio is currently highly concentrated, holding only 10 positions. This indicates a "high-conviction" strategy where capital is deployed into a select set of ideas rather than broad diversification. The turnover rate was exceptionally high this quarter, with 6 new positions initiated and 8 positions liquidated, signaling a complete overhaul of the firm's investment outlook.

2. Key Holdings

The portfolio is dominated by three "mega" positions, which together account for approximately 79% of the total assets:

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
SGRY
SURGERY PARTNERS INC
$122M10.2M37.2%02
BA
BOEING CO
$51M258K15.7%03
BXSL
BLACKSTONE SECD LENDING FD
$30M1.3M9.0%04
UWMC
UWM HOLDINGS CORPORATION
$28M7.8M8.6%05
UNIT
UNITI GROUP LLC
$23M2.5M7.1%06
XLI
SELECT SECTOR SPDR TR
$19M117K5.8%07
TLN
TALEN ENERGY CORP
$15M47K4.6%08
VG
VENTURE GLOBAL INC
$14M890K4.3%09
OPTU
OPTIMUM COMMUNICATIONS INC
$10M8.0M3.2%10
VST
VISTRA CORP
$9M59K2.7%

Filing history

2026Q1Mar 31
$328M▼ 54.7%
11 positionsView →2025Q4Dec 31
$724M▲ 34.6%
12 positionsView →2025Q3Sep 30
$538M▼ 48.7%
10 positionsView →2025Q2Jun 30
$1.0B▲ 72.9%
12 positionsLocked2025Q1Mar 31
$607M▼ 7.9%
12 positionsLocked2024Q4Dec 31
$659M▲ 349.1%
15 positionsLocked2024Q3Sep 30
$147M▼ 23.7%
11 positionsLocked2024Q2Jun 30
$192M▼ 44.2%
10 positionsLocked2024Q1Mar 31
$345M▲ 386.2%
8 positionsLocked2023Q4Dec 31
$71M▼ 55.7%
8 positionsLocked2023Q3Sep 30
$160M▼ 16.2%
10 positionsLocked2023Q2Jun 30
$191M▼ 10.1%
13 positionsLocked
Showing 12 of 81